Connected Oilfield Market: How the Business Will Grow in 2026? Prominent Players: Rockwell Automation, Baker Hughes, a GE company, Schlumberger, ABB, Siemens, Emerson, Weatherford, Halliburton, Redline Communications, Petrolink, Pason Systems Corp., KONGS

The global connected oilfield market size is prognosticated to rise remarkably on account of new technological advancements in the digital oilfield worldwide. Fortune Business Insights™ in their report titled, “Connected Oilfield Market Size, Share & Industry Analysis, By Solution (Hardware, Software, Others), By Application (Onshore, Offshore), and Regional Forecast, 2019-2026,” provides a 360-degree analysis on the market and its key industry developments.

According to the connected oilfield market analysis, the market is segmented based on solution, application, and geography. With respect to the solution, the market is classified into hardware, software, and others. In terms of application, the market is grouped into offshore and onshore.

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Highlights of the Report:

An in-depth analysis of the connected oilfield market with its base and forecast figure and CAGRs

Growth drivers, restraints, challenges, and opportunities of the market.

Key players of the market and important strategies adopted by them

Key segments of the market

Key industry insights and major Industry developments

Other connected oilfield market trends

Market Segmentation:

By Solution
By Application
By Geography

Some of the key industry developments in the connected oilfield market are:

February 2019 – A joint venture was signed between Rockwell Automation and Schlumberger for solving problems of the gas and oil industry by creating a completely integrated digital oilfield solution. This solution will allow oil companies to

June 2019 – C3.ai, a Californian software solution provider and Baker Hughes, a GE company, entered into a joint venture for delivering Artificial Intelligence solutions across the gas and oil industry. With the help of Artificial Intelligence, it will be easy to control and monitor the equipment and processes for making better business decisions.

Some of the significant connected oilfield market manufacturers include:

Petrolink
Schlumberger
Baker Hughes (GE Company)
KONGSBERG
Halliburton
Rockwell Automation
National Oilwell Varco
Emerson
Digi International
Siemens
Redline Communications
Pason Systems Corp
Weatherford
ABB

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Rise in Return on Investment for Digital Oilfield will Boost Market

An important factor promoting the connected oilfield market growth is the advancement of new technologies into the digital oilfield sector. Besides this, the rise in demand from gas and oil operators for scaling up their production from mature wells are anticipated to help increase the connected oilfield market size in the coming years. Furthermore, the rise in return on investment or ROI in digital oilfield will further help attract high connected oilfield market revenues in the forecast duration.

On the contrary, factors such as cybersecurity threats that hamper the digital oilfield and its growth is a major threat to the overall connected oilfield market growth in the coming years.

Nevertheless, new ultra-deep or offshore water discoveries are likely to create lucrative growth opportunities for the market in the long run. Besides this, the introduction of digital trends in digital oilfield activities is likely to help attract high connected oilfield market revenues in the near future.

Massive Investment in Unconventional Production of Hydrocarbons to Help North America Emerge Dominant

Geographically, the connected oilfield market is widespread into five major regions, namely the Middle East and Africa, Latin America, Asia Pacific, Europe, and North America. Each of these regions is further segmented into countries. Among these, North America has emerged dominant in the market on account of massive investment in the unconventional production of hydrocarbon. This, coupled with the implementation of high-end technology in the oilfield market, are likely to help this region generate the highest connected oilfield market shares in the coming years.

On the other hand, the market is Europe is anticipated to witness significant connected oilfield market growth on account of the rise in demand for technological processes for enhancing the overall efficiency of the oil wells. This, coupled with better asset management, is likely to help the Europe market grow remarkably. Furthermore, the market in Asia Pacific is anticipated to witness steady growth on account of increasing demand for gas and oil from developing nations such as China and India. The nations mentioned above are embracing digital oilfield technologies for cutting down the overall cost and optimization of business operations.

Companies Entering into Joint Ventures for Improving Productivity

Major players functioning in the connected oilfield market are focusing on adopting strategies such as joint ventures for expanding their names to various geographies. Besides this, companies are also adopting automation in the oilfield for better productivity and rapid growth during the forecast period.

Major Table of Content for Connected Oilfield Market:

Introduction
Executive Summary
Market Dynamics
Key Insights
Global Connected Oilfield Market Analysis, Insights and Forecast, 2026
North America Connected Oilfield Market Analysis, Insights and Forecast, 2026
Europe Connected Oilfield Market Analysis, Insights and Forecast, 2026
Asia Pacific Connected Oilfield Market Analysis, Insights and Forecast, 2026
Middle East and Africa Connected Oilfield Market analysis, Insights and Forecast, 2026
Latin America Connected Oilfield Market Analysis, Insights and Forecast, 2026
Competitive Landscape
Company Profile
Conclusion

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